17 June 2022

Corporate Sustainability Reporting Directive: call for fair market access independent assurance services providers

Last year the European Commission adopted a proposal for the Corporate Sustainability Reporting Directive (CSRD), which would amend the existing reporting requirements of the Non-Financial Reporting Directive (NFRD, Directive 2014/95/EU). The negotiators from Parliament, the Commission and the Council hope to reach a compromise by the end of June 2022.

The new Directive will substantially increase reporting requirements for the companies falling within its scope and will also entail a huge increase in the number of companies subject to the EU sustainability reporting requirements. The proposal for the CSRD has the potential to accelerate responsible change and will create transparency across all sectors by standardizing the disclosure, reporting and assurance of sustainability metrics.

Sustainability & Kiwa

Kiwa fully endorses a sustainable development in which ESG topics will be crucial. Just as crucial as avoiding false claims or unprofessional statements. Therefore, Kiwa welcomes the EU initiative on adequate corporate sustainability reporting (CSRD), most likely mandatory as per 2023, wholeheartedly.

To avoid false claims and greenwashing, professional evaluation by an accredited organization is essential for the credibility of the CSRD and therefore a better world to live in. Experts of accredited TIC organizations like Kiwa do provide for such credibility in line with Kiwa’s motto: Partner for Progress and in more than just financial performance.

The TIC Council has prepared recommendations in the context of the CSRD proposal.

  • Read more in the position paper ‘Independent assurance service providers under CSRD: suggestions towards a level playing field for all’ from the TIC Council’. Download the position paper here.
  • Read the declaration ‘Il est temps d’assurer une réelle indépendance de l’audit de durabilité en Europe’ here (French)

About the TIC Council

The TIC Council represents the international Testing, Inspection and Certification (TIC) sector. The global association represents over 90 international independent third-party testing, inspection, certification and verification organisations, including Kiwa. Paul Hesselink, CEO of Kiwa, holds a Global Board seat in the TIC Council.